New Delhi: In the month of May, the prices of petrol and diesel increased by Rs 7.5 per liter, which was implemented in four phases. Despite this, an unexpected increase in the consumption of both fuels has been recorded in the month of June. This fact is based on data from multiple government and private sources, which show that the increase in prices has not affected consumer demand.
According to experts, the main reason for the increase in fuel consumption by drivers and industries despite rising oil prices is the rapid resumption of economic activities. Movement of people and cargo activities are continuously increasing, which has increased the need for both petrol and diesel.
Government data shows that in the month of June, petrol consumption has increased by about 5% compared to the same period last year, while diesel consumption has increased by about 6%. Experts believe that this growth is a sign of the country’s economic reform process and improvement in the production capacity of industries.
Additionally, the current policies and subsidies of the government are also affecting the availability and demand of fuel. Despite the ever-increasing prices of petrol and diesel, the increase in the number of vehicles per day and changes in commission rates have not had any negative impact on consumption.
According to the Federal Minister and Economic Advisor, the increased consumption of fuel is indicating additional tax collection to the government and improvement in the economy. However, in view of the increasing demand, it has been advised to be cautious about further increase in fuel prices, so that it does not put too much burden on the consumer class.
